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Marketwatch brings good news for the USA: American workers are finally reaping the benefits of the lowest unemployment rate and best jobs market in decades: Wages and benefits are rising at the fastest pace in a decade. Firms have sought to fill openings by offering better benefits such as more vacation time or flexible hours. When push comes to shove, they are offering higher pay. While bigger paychecks are great for workers, the US Federal Reserve is watching closely to see if rising compensation is stoking inflation. The Federal Reserve could increase U.S. interest rates if it becomes a big worry, but so far inflation remains relatively mild.
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Wages and Benefits are Rising at the Fastest Pace in a Decade
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If condition persists, consult your physician.
(Score: 2) by The Mighty Buzzard on Monday August 06 2018, @09:08PM (2 children)
On the small scale, it's negotiated between employer and employee. On a regional scale (for any sized region) it's an aggregate based largely on how far one lives from the employers who are willing to pay the highest wages.
That first sentence is key. If you go into an interview with the idea of jobs having a fixed sticker price, you're doing yourself (and others around you) a great disservice.
As for the libertarian idea, there isn't one. Libertarians are individualists as a general rule. Someone else's idea of what something is worth in no way affects my own. From my own specific perspective, I prefer to gauge how important the position is, set the spherical cow rate from that, then adjust it based on the value of the person filling it. Including my own, mind you. If I'm having to do most of the heavy lifting administratively, mentally, or physically, that leaves less for the employees on the job. If I'm not, the wages increase in accordance. Mine is always going to be a significant percentage, mind you. Creating the job opening in the first place by starting a company and keeping it afloat year after year is no trivial matter.
My rights don't end where your fear begins.
(Score: 2) by Thexalon on Monday August 06 2018, @10:21PM (1 child)
My understanding, assuming you're a reasonably good representative of the libertarian perspective, is that it's basically tautological: The wage that ends up being paid (barring any government interference) is by definition the correct wage. Is that different from what you just said, and if so how?
The only thing that stops a bad guy with a compiler is a good guy with a compiler.
(Score: 2) by The Mighty Buzzard on Monday August 06 2018, @10:31PM
On a macro scale this is the case. It can most certainly fall out of whack when the market is allowed to become corrupted though. On an individual scale, individual judgment rules.
My rights don't end where your fear begins.